The same goes for an excessive number of small holes, like a single wall with 40 nail holes.

I mean how else would Sellers (or even perhaps buyers) know that you own a neighborhood? 

If and when someone, or a reliable company comes up with a deal to fully manage a single room rental property for me then I’ll look at the profitability, ROI, and risk and consider it.  

In the real world, its hard if not impossible to get all 4 aspects on a single deal.

I’d even consider finishing the basement, just well enough for me to live down there, so I could rent out ALL the units.I’d save all my cash and look to refi the property in 1-2 years out of the FHA mortgage, so I could use it again if necessary.

When considering single-family homes (SFH) or small multifamily properties, it’s important to analyze rental demand, local property values, and rental rates to ensure you’re getting strong cash flow potential.

if someone has $500K in cash, and has been analyzing deals for 5 years, and hasn't made a single offer... that's analysis paralysis. 

https://treas-secure.state.mi....some things to keep in mind:-Non owner occupied properties pay 18 mils more in taxes in Michigan - Even with the SEV you should plan that the SEV will go up.

I know we can get 25-30% in single-family homes with a little luck.

The reason I say this is that no matter what your remodel if you are doing a lot of the work yourself (way to max out equity growth) then maybe look for an even larger remodel than you had thought about?